On a recent event Chain Reaction in Johannesburg, the head of blockchain startup Civic (CVC), Vinny Lingham, shared his vision about another crypto bubble and the future of DLT industry.
Speaking about bitcoin reaching $100k, Lingham said:
“Do I think we’ll have another bubble? Probably, because people just don’t learn. Once it broke through $20k, it would run to over $100k and then we have the start of a new bubble-bust cycle. I have seen three or four bear markets and cycles. In bear markets, it is more about consolidating and going into high-quality coins like bitcoin.”
Nevertheless, Vinny Lingham thinks the blockchain industry is far from the mass adoption due to lack of real use cases:
“Even though we are about a decade into blockchain technologies, we are still in the infancy. Primarily the number one use case for cryptocurrency outside of money transfers is trading. It’s mostly a speculation game.”
Civic is a decentralized system for storing personal data on the Ethereum blockchain that was listed on top 10 cryptos under $0.1 with great potential.
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